June Japanese Yen futures surged to a three-month high, reaching a session peak of 64,725. The move comes amid a report of a second round of intervention by Japanese authorities after an estimated 34.5 billion was spent defending the currency last Thursday. Markets are now focused on the upcoming release of the Bank of Japan rate meeting minutes, looking for clarity on the path of gradual policy tightening and the bank's stance on inflation persistence. Additionally, a pause in the Strait of Hormuz escort mission has eased safe-haven demand for U.S. Treasuries. Given Japan's dependence on Gulf oil, the Japanese Yen remains highly sensitive to Middle East developments and energy costs.